(Recasts with more data, milestones, analyst comment)
By Renita D. Young
Feb 28 (Reuters) - February sales of U.S. Mint American
Eagle gold coins fell 80 percent from the same month a year
earlier, the slowest February sales in 11 years, while February
silver coin sales fell to the lowest since 2008, government data
showed on Wednesday.
The U.S. Mint data showed sales of American Eagle gold coins
totaled 5,500 ounces in February, down 90.6 percent from the
previous month when 58,500 ounces were sold. The year prior,
27,500 ounces were sold.
Spot gold prices fell about 2 percent in February in
a wild market ride that saw global stocks sell off sharply and
then regain ground.
"The U.S. Mint sold coins for about three percent over spot
prices, so everybody went to the secondary market to buy where
the premiums are very low," said Walter Pehowich, executive vice
president of investment services at Dillon Gage Metals.
Data showed the U.S. Mint sold 942,500 ounces of American
Eagle silver coins in February, down 70.9 percent from the month
before when 3.2 million ounces were sold. That was 22.4 percent
lower than the year prior, when 1.2 million ounces were sold,
according to the data.
The U.S. Mint sold 20,000 ounces of American Eagle platinum
coins. It was the first time the U.S. Mint sold platinum coins
since January 2017, when it sold the same amount.
Last month, sales of U.S. Mint American Eagle gold coins
marked their slowest January sales in 10 years. January silver
coin sales fell to the lowest since 2009.
(Reporting by Renita D. Young
Editing by Tom Brown)